[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[S. 1749 Enrolled Bill (ENR)]

        S.1749

                     One Hundred Sixteenth Congress

                                 of the

                        United States of America


                          AT THE FIRST SESSION

          Begun and held at the City of Washington on Thursday,
           the third day of January, two thousand and nineteen


                                 An Act


 
To clarify seasoning requirements for certain refinanced mortgage loans, 
                         and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
    This Act may be cited as the ``Protecting Affordable Mortgages for 
Veterans Act of 2019''.
SEC. 2. SEASONING REQUIREMENTS FOR CERTAIN REFINANCED MORTGAGE LOANS.
    (a) Ginnie Mae.--Section 306(g)(1) of the National Housing Act (12 
U.S.C. 1721(g)(1)) is amended by striking the second sentence.
    (b) Veterans Loans.--Section 3709(c) of title 38, United States 
Code, is amended--
        (1) in the matter before paragraph (1), by striking ``is 
    refinanced'' and inserting ``is a refinance''; and
        (2) by striking paragraphs (1) and (2) and inserting the 
    following new paragraphs:
        ``(1) the date on which the borrower has made at least six 
    consecutive monthly payments on the loan being refinanced; and
        ``(2) the date that is 210 days after the first payment due 
    date of the loan being refinanced.''.
    (c) Rule of Construction.--Nothing in this Act may be construed to 
restrict or otherwise modify the authorities of the Government National 
Mortgage Association.

                               Speaker of the House of Representatives.

                            Vice President of the United States and    
                                               President of the Senate.